Iran closer to own digital money as sanctions loom

Iran says it is preparing to develop its own digital currency as a solution which officials in Tehran say would help the country dodge the returning US sanctions. A plan to create an indigenous cryptocurrency was already on the agenda of the Directorate for Scientific and Technological Affairs of the Presidential Office, Iran’s media reported.The announcement was made by Alireza Daliri, the Directorate’s deputy for management and investment affairs.Daliri was quoted by ISNA news agency as saying that a large number of domestic knowledge-based companies had the expertise to develop digital currency. However, he emphasized, they would still have to work on removing pre-launch flaws.